HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY WELFARE FUND (EIN 221481564) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1950

Legal Domicile

Principal Officer

BEVERLY CEASER

Phone

9735895050

Tax Period

2024-04-01 to 2025-03-31

HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY WELFARE FUND, founded in 1950, is a major nonprofit that reported $265.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $243.9M left a modest 8% surplus.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $225,044,356

Investment Income $13,453,318

Other Revenue $26,954,986

TOTAL REVENUE $265,452,660

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,722,263

Fundraising Expenses $0

Other Expenses $494,126

TOTAL EXPENSES $243,876,094

Year-over-Year Comparison

	2024	2023	Change
Revenue	$265,452,660	$240,902,456	+0.1%
Expenses	$243,876,094	$230,554,607	+0.1%
Net Income	$21,576,566	$10,347,849	+1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$623,033

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK KOCSIS JR	CO-CHAIRMAN	1.00	Director	$0	$0	$0
MANUEL AMADOR JR	CO CHAIRMAN	1.00	Director	$0	$0	$0
ANTHONY CAPACCIO	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY S WATERS	TRUSTEE	1.00	Director	$0	$0	$0
FRANK CRISCOLA JR	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN DELPOME	TRUSTEE	1.00	Director	$0	$0	$0
LUIS RECIO	TRUSTEE	1.00	Director	$0	$0	$0
MARTIN DOWN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL E HELLSTROM JR	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL GIUNTA	TRUSTEE	1.00	Director	$0	$0	$0
BEVERLY CEASER	GENERAL MANAGER	20.00	Officer	$263,394	$91,173	$354,567
RUSSEL BLEY	ASST. GENERAL MGR	20.00	Officer	$190,172	$78,294	$268,466
THOMAS COTOV	LEGAL SERVICES	35.00	Highest	$249,902	$90,027	$339,929
VINCENT RICCARDI	LEGAL SERVICES	35.00	Highest	$223,569	$87,788	$311,357
CHARLES FERNS	FINANCE MANAGER	14.00	Highest	$199,257	$85,722	$284,979
CARLOS DEOLIVEIRA	COLLECTIONS AUDITOR	18.00	Highest	$162,080	$82,569	$244,649
GLEN KENYON	MANAGER	18.00	Highest	$163,076	$82,646	$245,722

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$265,452,660	$243,876,094	$367,808,806	$21,576,566
2024	$240,902,456	$230,554,607	$350,203,696	$10,347,849
2023	$226,578,670	$215,670,065	$320,028,510	$10,908,605
2022	$218,623,615	$204,412,911	$313,433,739	$14,210,704
2021	$206,522,689	$186,054,567	$303,259,607	$20,468,122
2020	$209,865,685	$182,148,361	$270,617,489	$27,717,324
2019	$183,137,642	$164,134,032	$247,131,074	$19,003,610

HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY WELFARE FUND